Netflix is raising the price of its most popular streaming plan by $1, from $8.99 to $9.99 per month. The price rise affects new subscribers immediately in the U.S., Canada and parts of Latin America; while existing customers will have a grace period before they receive the price hike.
The grace period for existing customers will be in place for 12 months, but is extended for subscribers that have a price guarantee in place for a longer term. The price rise affects the ‘Standard’ plan, which allows for two simultaneous streams. The Premium and Basic streaming plans, which allow for 4 screens and 1 screen respectively, remain unaffected by the price hike.
“To continue adding more TV shows and movies including many Netflix original titles, we are modestly raising the price for some new members in the U.S., Canada and Latin America,” Netflix said in statement. The increase in price is the second within 18 months, but still remains cheaper than Hulu’s commercial-free tier ($11.99 per month), HBO Now ($14.99 per month), and Showtime’s over-the-top service ($10.99 per month).